WILMINGTON, NC (WWAY) -- Duke Energy Progress says its customers in North Carolina will pay less for electricity starting Sunday.
The power company, formerly known as Progress Energy, says as approved by the NC Utilities Commission (NCUC), the bill for a residential customer using 1,000 kilowatt-hours (kWh) of electricity per month will decrease $2.12, or nearly two percent, from $111.39 to $109.27.
The decrease reflects changes in three components of the rates residential customers pay. The changes, based on a monthly 1,000-kWh bill, include:
-A decrease of $1.22 in the monthly amount customers are charged for fuels used to generate electricity;
-a decrease of 68 cents in the monthly charge used to pay for energy-efficiency and demand-side management programs; and
-a decrease of 22 cents per month in the charge for adding renewable energy as required under state law.
Commercial customers would see an average 2.2 percent decrease per month, and industrial customers would see an average 1.1 percent monthly decrease.
"We know that electricity makes up a significant portion of customer expenses, and that any rate reduction can benefit North Carolina families and businesses,” said Paul Newton, Duke Energy president – North Carolina. "Lower costs and efficiencies achieved as a result of our merger have helped to provide savings that we can pass on to our customers in the coming year. We will continue to work to provide safe, reliable, affordable and increasingly clean energy now and in the future."
Under North Carolina's energy law passed in 2007, Duke Energy Progress was required to supply customers with renewable energy equivalent to three percent of retail sales by 2012. The utility says it met that requirement, which increases to 12.5 percent in 2021.